From Mayor Mallory’s 2009 State of the City Address:
“Another crucial component of GO Cincinnati calls for the development of a Streetcar system and Streetcars will have a dramatic and lasting impact on the future of Cincinnati. It will spur economic development, creating new jobs and growing our local economy. And in its first phase, it will connect uptown and downtown, our two primary employment centers.
Now, we have done our homework and the benefits of a Streetcar system are clear. Tampa developed a Streetcar in 2002 and they have seen $450 million dollars in new development, and another $450 million dollars in development is underway. In Charlotte, developers have invested $1 billion dollars since their Streetcar system was installed. And in Seattle, $1.4 billion dollars in new real estate investment has been made along their Streetcar route.
Those results are no coincidence. When a city puts rails in the ground, economic growth follows. The exact same thing will happen right here in Cincinnati. We expect to see at least $1.4 billion dollars in economic impact in the first phase, alone. And that will give us additional resources to put to use in our neighborhoods all across the city.
The benefits of the Streetcar system are too significant to allow the naysayers to derail our efforts. The facts are clear. Streetcars must be a part of Cincinnati’s future and we will fight to make it happen.”